Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0389%/8h= +42.6% APRpaid last 24h +0.076%

Price spread now: BloFin against Aftermath Perps−0.146%49s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aftermath Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.146% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.146% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 30 hours of funding at the current rate (+$12 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps HYPEUSD	93.224	−0.0050	get 0.0006% / 1h	11m 56s	$22K	$21K	10x
Short	BloFin HYPE-USDT	93.088	0.0339	get 0.0170% / 4h	1h 11m	$17.0M	$11.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Aftermath Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Aftermath PerpsbpFee BloFinbpOrdersPrice spread, now −0.146%Rate

Funding earned: $81.66
Price spread: −0.146% → 0.000%: −$14.64
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: $46.03
Costs to cover: 0.210%
Break-even: 3.1 days

Slippage unknown: Aftermath Perps: no order-book sample; BloFin: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aftermath Perps no order-book sample	—	—	—	—	—
Sell BloFin live order book, 2 min ago	0.27 bp	6.3 bp −$6	8.1 bp −$81	12.8 bp −$1,283	doesn't fit

Aftermath Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1000%	1h	93.101	−0.133%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.998	−0.243%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0134%	1h	93.040	−0.198%	$699K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.088	−0.146%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.114	−0.118%	$85K	$345K	20x	as long as short
Aftermath Perps HYPEUSDlong	−0.0050%	1h	93.224	long leg	$22K	$21K	10x
Orderly PERP_HYPE_USDC	−0.0049%	4h	93.120	−0.112%	$155K	$654K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.083	−0.151%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.132	−0.099%	$23K	$319K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.151	−0.078%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0012%	1h	93.095	−0.139%	$111K	$579K	20x	as long as short
Phemex HYPEUSDT	+0.0015%	8h	93.131	−0.100%	$12.6M	$2.7M	50x	as long as short
Aster HYPEUSDT	+0.0018%	4h	93.147	−0.083%	$8.8M	$35.9M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.156	−0.073%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0036%	4h	93.135	−0.096%	—	$52.9M	—	as long as short
Gate HYPE_USDT	+0.0044%	4h	93.172	−0.056%	$44.5M	$55.5M	75x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	93.230	+0.006%	$320.7M	$277.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.232	+0.008%	$113.6M	$299.5M	50x	as long as short
Derive HYPE-PERP	+0.0094%	1h	93.100	−0.133%	$16.1M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.136	−0.095%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.125	−0.107%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.101	−0.132%	$70K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.159	−0.070%	$339K	$162K	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.230	+0.006%	$89.5M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0098%	4h	93.227	+0.003%	$376.9M	$880.3M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.120	−0.112%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.095	−0.139%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.176	−0.052%	$2.03B	$657.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.134	−0.097%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.235	+0.011%	$45.8M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.240	+0.017%	$225.5M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.115	−0.117%	$7.3M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.377	+0.163%	$31.1M	$53.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.364	+0.149%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.292	+0.072%	$339K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.148	−0.082%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.139	−0.091%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.139	−0.092%	$481K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.107	−0.126%	$79K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.158	−0.071%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.125	−0.107%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	−0.075%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.212	−0.014%	$18.3M	$42.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.121	−0.111%	$396K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	93.295	+0.076%	$5.0M	$29.1M	30x	as long as short
HTX HYPE-USDT	+0.0138%	4h	93.247	+0.024%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.150	−0.080%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.092	−0.142%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	93.154	−0.076%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	93.137	−0.093%	$1.4M	—	100x	as long as short
BloFin HYPE-USDTshort	+0.0339%	4h	93.088	−0.146%	$17.0M	$11.5M	75x
Deribit HYPE_USDC-PERPETUAL	+0.0394%	1h	93.217	−0.008%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.194	−0.033%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.730	+0.542%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0687%	1h	93.182	−0.046%	$20.7M	$29.8M	50x	as long as short